Cisco Q1 profit and revenue grew on strong U.S. results

Cisco Systems posted higher revenue and profit in its fiscal first quarter despite weak orders in Europe, as results in the U.S. were strong, the networking company reported on Tuesday. Revenue hit $11.9 billion in the quarter, up 6 percent from a year earlier, the company said. Net income rose by almost 18 percent to $2.1 billion, with earnings per share of $0.39. Chairman and CEO John Chambers attributed the company's profit in part to strong cost containment. Cisco's fiscal first quarter ended Oct. 27.

Source: http://www.infoworld.com/d/the-industry-standard/cisco-q1-profit-and-revenue-grew-strong-us-results-207018

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